Bank card payments: what has changed during the war

26 June 2022, 11:32 | Economy
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In April 2022, about 550 million transactions worth UAH 450 billion were made in Ukraine and abroad using payment cards, the National Bank calculated. Compared to pre-war January 2022, the number of operations decreased by 15%, although their amount increased by 2%.

In particular, in Ukraine during April 2022, more than 505 million transactions worth about UAH 375 billion were made using payment cards.. This is 20% less in quantity and 10% less in amount compared to January 2022. Such a reduction in the conditions of war is insignificant and indicates that the Ukrainian financial system continues to function stably, and citizens have the opportunity to meet their financial needs..

Among other things, Ukrainians preferred non-cash transactions with payment cards, which are safer under martial law.. Thus, in April 2022, the share of non-cash transactions using payment cards within Ukraine amounted to 71% in total (in January 2022, this figure was 62%). At the same time, the share by number remained almost unchanged - 90% (for January 2022 - 91%). That is, 9 out of 10 card transactions were non-cash.

Abroad in April of this year, Ukrainians spent about UAH 75 billion using payment cards of Ukrainian banks, the vast majority of these funds were payment for goods in POS-terminals of the trading network and cashing out ATMs by internally displaced Ukrainians.

“From the very beginning of the war, we, together with banks and payment systems, did everything possible to ensure the full operation of the payment card infrastructure..

Funds of citizens on accounts are available to them around the clock and 7 days a week. We care about the financial protection of Ukrainians, and this will continue. After all, we consider the ability to use your cards daily in Ukraine or abroad as a basic need, especially during the war,” commented Oleksiy Shaban, Deputy Head of the National Bank.

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Earlier, the National Bank for the first time during the war of Russia against Ukraine classified the bank as insolvent. We are talking about Megabank (Kharkiv).

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